Xin Lang Cai Jing·2025-11-11 10:58Core Viewpoint - China Southern Glass Group Co., Ltd. (hereinafter referred to as "the Company") announced a significant adjustment to its governance structure, including the cancellation of the supervisory board and the transfer of its powers to the audit committee, aiming to enhance governance efficiency and adapt to new regulatory requirements [1][2]. Governance Structure Adjustment - The Company plans to cancel the supervisory board and its positions, with the audit committee assuming the supervisory powers. This change is in line with the new Company Law of the People's Republic of China and aims to optimize decision-making processes [2][3]. - The adjustment is considered an important step in improving the governance structure, with the board believing that this will enhance governance efficiency [2]. Internal System Revisions - The Company intends to systematically revise existing internal systems and introduce new management systems. This includes 16 revised systems such as the Audit Committee Meeting Rules and Information Disclosure Management System, and 4 new systems including the Director Departure Management System [3][4]. - Additionally, 5 systems will require shareholder meeting approval for revision, including the Independent Director Work System and the Related Party Transaction Management System, along with one new system for Director and Senior Management Compensation [4]. Upcoming Shareholder Meeting - A temporary shareholder meeting is scheduled for November 28, 2025, to review the proposed amendments to the Company’s articles of association and the revisions of certain systems. Investors can find details on participation through the Company’s announcements [5]. - The governance structure adjustment and system revisions are aimed at enhancing the Company's operational standards and aligning with capital market regulatory requirements, laying a foundation for long-term stable development [5].